It is under the Reverb tool. Type B and it will open the Master Audio FX rack. Click on the presets under the Reverb tool and you will see a list. Pick one and listen to the result. (I assume that you have some music or audio in the arranger.) You can also apply Reverb and Echo to an object by double-clicking on it, or by right-clicking on it and going to Audio effects, or by navigating through the Effects menus.
You can play with the reverb directly on the graphic screen to hear what happens at different locations. Try it.
If you have the Premium version, type E to get the Mastering Suite. Click on the preset button at the very top and you will see further effects that have an overall impact on the sound, particularly on the 6 band EQ.